California is Offering To Give $150,000 To Tech Entrepreneurs Working On Green Tech

The state of California has offered to give $150,000 in grants to entrepreneurs who are working on renewable energy. There is a 2 week window in which they need to prove their tech or concepts.

The state of California has offered to give $150,000 in grants to entrepreneurs who are working on renewable energy. Applicants are required to act fast in order to qualify, as the offer is valid from August 22nd till September 5th. This is a 2-week window in which they need to prove their tech or concepts.

This offer is initiated by the California Sustainable Energy Entrepreneur Development Initiative, or CalSEED, which is a from the California Energy Commission. They want new innovation in green technology, protecting the environment from the harm and damage caused by non-renewable energy sources. Companies that qualify for this $150,000 grant will also be eligible for another $450,000 follow-up grant.

The aim is to allow clean technology initiatives to go from an idea to a working company, by providing capital to do so, Gary Simon explained (chairman of CleanStart, a clean energy industry group). “It's the hardest money to get”, he added.

These grants are available to companies working in renewable energy, water treatment, water savings, energy efficiency and storage, electric vehicle, and charging technologies. The money is given not as a loan, but as a reward.

“It’s good money. It’s not a loan, so you don’t have to pay it back, and they don’t take any equity,” Simon said.

by Talha Shaikhani